It's claimed the coalition government could target the old age pension for cuts in the upcoming budget.

The Sunday Independent reports that the Government is looking at the possibility of cutting the old-age pension in order to meet a 3.1 billion euro budget day target.

At present, more than half a- million pensioners receive payments of up to 230 euro's a week from the state and the total cost of the old-age pension, or the state contributory pension, is 5.3 billion euro's a year.

While details of the proposal are not finalised, the report says it is estimated that a 10 euro a week reduction across the board would reach savings of between 250-and-300 million euro's.

John Drennan, is the Political Editor of the Sunday Independent.